Ohio 2021 Sales Tax Holiday
The state of Ohio will have its annual, back-to-school sales tax holiday from Friday, August 6th, 2021 at 12:00am until Sunday, August 8th, 2021 at 11:59 pm. The sales tax […]
Category: Tax
Is an LLC the right choice for your small business?
Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe you are launching a new […]
The deductibility of corporate expenses covered by officers or shareholders
Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer […]
How start-up expenses are handled on your tax return
Entrepreneurs often don’t know that many of the start-up expenses incurred can’t be currently deducted. You should be aware that the way you handle some of your initial expenses can […]
Can my small business can be hit with the “Trust Fund Recovery Penalty?”
There’s a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with employees. It’s called the “Trust Fund Recovery Penalty” […]
The IRS Dirty Dozen 2021 – Part 3
Yesterday, we presented the 2nd installment of the IRS’ Dirty Dozen 2021, revealing scams that use email, text, social media messages, or phone calls to get personal information, with the […]
The IRS Dirty Dozen 2021 – Part 2
Yesterday we introduced the first installment of the IRS’ Dirty Dozen — its annual list of the top tax scams that victimize many unsuspecting people. We feel it’s important to […]
Money Made from a Hobby MAY be Taxable
Many people are engaged in hobby activities that are also a source of income. For example, some people started selling masks and other handmade items during the pandemic. These people […]
The IRS Dirty Dozen – 2021
At HW&Co., we believe that a conversation can change everything. Talking about an issue can bring understanding; discussing a risk can help to avoid it. In that vein, let’s talk […]
Claim the Employee Retention Tax Credit
The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a […]
Traveling for business again? What can you deduct?
As we continue to come out of the COVID-19 pandemic, you may be traveling again for business. Under tax law, there are a number of rules for deducting the cost […]
2021 Q3 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may […]
